[Code of Federal Regulations]

[Title 34, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 34CFR674.10]



[Page 567]

 

                           TITLE 34--EDUCATION

 

 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION

 

PART 674_FEDERAL PERKINS LOAN PROGRAM--Table of Contents

 

                      Subpart A_General Provisions

 

Sec. 674.10  Selection of students for loans.



    (a)(1) An institution shall make loans under this part reasonably 

available, to the extent of available funds, to all students eligible 

under Sec. 674.9 but shall give priority to those students with 

exceptional financial need.

    (2) The institution shall define exceptional financial need for the 

purpose of the priority described in paragraph (a)(1) of this section 

and shall develop procedures for implementing that priority.

    (b) If an institution's allocation of Federal Capital Contribution 

is directly or indirectly based in part on the financial need 

demonstrated by students attending the institution as less-than-full-

time or independent students, a reasonable portion of the dollar amount 

of loans made under this part must be offered to those students.

    (c) The institution shall establish selection procedures and these 

procedures must be--

    (1) In writing;

    (2) Uniformly applied; and

    (3) Maintained in the institution's files.



(Approved by the Office of Management and Budget under control number 

1845-0019)



(Authority: 20 U.S.C. 1087cc and 1087dd)



[52 FR 45747, Dec. 1, 1987, as amended at 53 FR 49147, Dec. 6, 1988; 59 

FR 61407, Nov. 30, 1994; 64 FR 58292, 58315, Oct. 28, 1999]